Integrating Workforce Data to Measure Experiences and Drive Business Outcomes

Integrating workforce data to measure experiences and drive business outcomes

Page 1 Moving from employee experience to human experience You can’t move it if you can’t measure it

Elevating the human experience is Deloitte’s unique, tailored approach that aligns your organization to the values of the people that work for you and with you. It can move traditional “employee experience” to “human experience.” But, how can you move it if you can’t measure it?

Our approach to workforce experience helps organizations embed meaning into work by building workforce programs, technologies, and interactions based on human values.

84 percent of respondents rated the need to improve the employee experience as important or very Workforce experience is the important and 28 percent rated it urgent, yet only 42 percent thought that their workers were satisfied #1 global human capital trend. or very satisfied with day-to-day work practices.1

Page 3 Page 2 1) Deloitte 2019 Human Capital Trends Experience drives shareholder value

Revenue As $1B+ impact 147x profitable A 10 percentage-point improvement Companies with highly engaged in customer experience can employees outperform peers by equate to a revenue impact 147% in earnings per share.2 of more than $1 billion.1

More Satisfaction 25% profitable 2x impact Companies in the top quartile of Companies that focus on workforce experience are typically workforce experience double 25% more profitable than competitors customer satisfaction reflected in the bottom quartile.3 in their net promoter score.4

1) Improving Customer Experience By One Point Can Drive More Than A Billion Dollars In Revenue, Forrester Research, January 2020. 2) “The Engaged Workplace,” Gallup, https://www.gallup.com/services/190118/engagedworkplace.aspx, accessed February 20, 2020. 3) Building Business Value with Employee Experience, MIT Cisr Research Briefing, Vol. 17, No. 6. 4) 2019 Deloitte Global Human Capital Trends. Page 5 Page 4 Leadership has a perception Today’s surveys gap that needs to be closed just don’t work

Engagement surveys are designed to help companies LEADERSHIP RESPONSE EMPLOYEE RESPONSE and managers understand employees’ perception of their work environment and the extent to which they are engaged. Today, companies are investing more 69% 34% than $800M+ annually to improve engagement. Believe employees of employees Unfortunately, research shows that: are engaged are engaged • Employees don’t like answering them and respond less than 30% of the time 71% • Managers see employee surveys as busy work 48% • Typically, no action is taken from the results Believe employees are of employees think The bottom line: satisfied with their benefits that benefits are fair • Surveys often fail to engage the entire customer facing workforce including vendors and Companies need more sub-contractors that drive customer experience frequent assessments to measure engagement and 81% 38% Also, because annual surveys or infrequent Believe employees would recommend of employees would recommend the feedback capture don’t align with today’s real- inform their decisions. the company as a great place to work company as a great place to work time business environment, they tend to have Page 7 Page 6 Source: Research from Salary.com recency bias that can distort engagement data. There is a Automate and better way to integrate feedback get results measurement Imagine being able to give your By integrating worker transactional data from employees the ability to provide top- your HR applications with an experience of-mind feedback triggered by specific management (XM) platform, you can automatically moments that matter to them. Today’s trigger and capture feedback in real time based technologies let you do just that. on recent employee activities at scale. By leveraging “always on” feedback channels through email, web, and You can gain greater insights and analytics mobile, employers can make it easy from an integrated solution to help shape your for anyone within the organization critical talent acquisition and talent processes, to surface issues, offer ideas for workforce engagement, and overall culture. It can innovation and change, and track help to close the digital experience gap between progress on important initiatives. Pulse the technology that people experience in their surveys can also be used to gather personal lives vs. what they encounter at work. both structured and unstructured Dynamic dashboards leverage your HR application feedback to allow real-time reporting security and demographic data to allow views and analytics, which can be configured across different roles within your organization. for specific workforce populations too.

“Elevating the workforce experience: The digital lens,” Capital H Blog, https://capitalhblog.deloitte.com/2020/02/04/elevating-the-workforce- Page 9 Page 8 experience-the-digital-lens/amp/, accessed February 20, 2020 Real-time measurements provide key workforce insights Companies must consider everything from corporate culture and organizational structure to performance management and career development.

Identify opportunities to Review the breadth and effectiveness Monitor new workers for evaluate worker performance: of training offered to your workforce: cultural fit and compare WX • Do workers have ample • Are you offering proper data with that of colleagues feedback mechanisms? learning and development • Do you change direction or • Is your organization able opportunities for growth? coach them earlier? to translate positive WX • Do they feel empowered to improve • Does this affect recruitment experiences to CX results? their skill sets within the organization? strategies? COLLECT INSIGHTS AT KEY MOMENTS THAT MATTER • What are the 30, 60, 90-day Evaluate candidate feedback Listen to how workers feel and insights or interventions? and satisfaction what they get back from their work Candidate experience Worker experience Manager experience • Are the interview AND evaluation • Do employees feel appreciated Job search and application New hire Hiring a new worker processes yielding the right results? and satisfied with what your Interview and offer Goal setting 30, 60, 90-day feedback Onboarding Performance rating Initiating disciplinary action/ • Are there interviewing best organization provides them? Compensation change performance improvement plan practices that can be established? • Do they feel their work provides them Job change Termination a chance to leave a positive impact? Learning and development Separation exit survey Page 11 Page 10 Separation and resignation To learn how to measure and manage the key moments that matter for your workforce, please contact:

Jannine Zucker Kristin Starodub Tim Greulich Dave Pearson

Principal Principal Consulting Managing Director Sr. Manager, Human Capital Deloitte Consulting LLP Deloitte Consulting LLP Deloitte Consulting LLP Deloitte Services LP [email protected] [email protected] [email protected] [email protected]

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